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Retirement

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One in three Kiwis have no money plan for retirement

28 Apr 17 - NZ Herald: Young people were the least likely to have a money plan, but even among older people, only 41 per cent knew how much they would need for retirement.

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Want to live til you're 90? Better live like a life insurer

24 Apr 17 - Stuff: The life and health insurance industry used to be an unhealthy industry to work in. Long hours, a drinking culture, and socialising with insurance advisers took its toll on the waistlines and fitness of the male-dominated industry.

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Australian banks cut sales targets, NZ expected to follow

24 Apr 17 - Stuff.co.nz: The Australian parents of New Zealand's big four banks are pledging to overhaul the bonus structure paid to their staff.

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Why not change the tax on retirement savings?

21 Apr 17 - Otago University research:  Instead of taxing housing harder, why not change the tax on retirement savings?  This paper provides an analysis of how the New Zealand tax system may be affecting residential property markets. 

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NZ Super Fund performance report for March 2017

21 Apr 17 - The New Zealand Superannuation Fund has released its performance and portfolio report for March 2017.

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Statistics New Zealand private super research released

21 Apr 17 - This article by Statistics New Zealand looks at private superannuation, one of the ways wealth is distributed in New Zealand.

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David Simmers: Less super for the rich?

19 Apr 17 - Stuff.co.nz: OPINION: The current debate about superannuation seems to focus solely on the age of eligibility. This is disappointing; the equally important question of how to limit the amount paid to those who do not need state assistance is largely ignored.

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America has a retirement problem, not a saving problem

19 Apr 17 - The Economist: HOUSE Resolution 67, which Donald Trump signed last week, rolls back a rule that the Labor Department finalised late last year, which would have made it easier for cities and counties to run retirement savings plans for citizens who couldn’t get them through work. 

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The Bill for HIdden Private Equity Fees: $4bn

17 Apr 17 - Institutional Investor: As public pension plans in the U.S. increasingly invest in private equity and other alternatives, funds may be paying more than $4 billion annually in unreported fees, according to Pew Charitable Trusts.

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A Scary Percentage of Retirees Blow Through Their Workplace Savings When They Take a Lump Sum

17 Apr 17 - Yahoo! Finance: A lump sum payment from a pension or 401(k) may sound appealing, but one in five Americans deplete the money in 5.5 years, a study shows.

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Aussie retirees dip into super

17 Apr 17 - News.com.au: A growing number of retirees are dipping into their super savings to pay off debt or fund holidays.

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John Roughan: Tampering with superannuation has done National no harm

17 Apr 17 - NZ Herald: Despite its timidity (an increase of two years starting 20 years hence) the decision was predicted by most commentators to be a political mistake, an "own-goal", a gift to Winston Peters in election year.

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Getting to Know: Rod Severn

17 Apr 17 - Goodreturns.co.nz: "I am Rod Severn and I am the CEO of the Professional Advisers Association. We represent members in the Risk, Mortgage and Investment advice sectors of the industry."

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Forum: Retirement Policy in an Age of Uncertainty

12 Apr 17 - Retirement Policy and Research Centre forum: Two overseas experts will bring an international perspective to the forum and outline the best-practice thinking on future uncertainties in Australia, US, UK and Ireland.

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NZ the lucky country when it comes to superannuation

10 Apr 17 - NBR: CPA Australia chief executive Alex Malley says the heated discussion about superannuation - age of entitlement, generational fairness, gender equity - is a good one for New Zealand to have now.

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Anglican scheme looks for ethical uplift

10 Apr 17 - InvestmentNewsNZ: The rising demand for socially responsible investment (SRI) options has sparked renewed interest in niche ‘ethical’ funds, according to Anglican Pension Board general manager, Mark Wilcox.

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The mid-50s savings dash

10 Apr 17 - Stuff.co.nz: The mid to late-50s savings sprint is our chosen way to get a retirement nest egg. Survey data released by the Financial Markets Authority on Wednesday revealed confidence of a decent retirement was highest among people who sought retirement savings advice and information ten or more years before retirement.

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Get a grip on the uncertainties of retirement

7 Apr 17 - Stuff: " At some point in your life you will stop working. Hopefully, it will be at a time of your choice rather than through illness or lack of employment opportunities," writes Liz Koh. 

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John Mauldin takes a look at some data on retirement savings

7 Apr 17 - Interest.co.nz: John Mauldin takes a look at some data on retirement savings – or lack thereof. “The trouble with retirement is you never get a day off.”– Abe Lemons.

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Adrian Orr: NZ Super - Debunking common myths

5 Apr 17 - NZ Herald: "Recent public comments illustrate that many people don't understand what the New Zealand Super Fund is and what it does, and the role of The Treasury."

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FMA's Colmar Brunton research

5 Apr 17 - FMA: The FMA commissioned Colmar Brunton to survey New Zealanders aged between 60 and 74 years, to find out their experiences of retirement and how information or advice has helped them manage their retirement savings. 

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Economist Bill Rosenberg runs the ruler over NZ Super cost predictions

5 Apr 17 - Interest.co.nz: Economist Bill Rosenberg runs the ruler over NZ Super cost predictions, and argues it's not as scary as we've been told; Calls for a proper debate on population policy.

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Forum: Retirement Policy in an Age of Uncertainty

31 Mar 17 - There is much concern here and abroad about what the future holds for retirement policy. Brexit and the Trump election have profound implications for what is happening in the Ireland, England and the US. Australia has its own set of uncertainties and is in the midst of farreaching reform. 

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New checklist devised for people considering moving to retirement villages

29 Mar 17 - Stuff.co.nz: The Retirement Villages Association has issued a checklist to help people considering moving into a retirement home.

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Growing KiwiSaver balances mean people can't put off writing a Will

29 Mar 17 - Stuff.co.nz: Growing KiwiSaver balances could spell trouble for New Zealanders who do not have a will.It is estimated that more than half of all New Zealanders over the age of 18 have not yet drafted one.

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Many Kiwis have no idea how much income they need to retire

29 Mar 17 - Stuff.co.nz: KiwiSaver provider Kiwi Wealth found something odd when developing online tools to help people work out how much to save to get the retirement they want.

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Four KiwiSaver schemes yet to ditch weapons investments

27 Mar 17 - Radio New Zealand: Some KiwiSaver funds are still investing in banned weapons despite making promises to get rid of the holdings.

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Retirees now face 30 years on meagre income

27 Mar 17 - Northern Advocate: While it is possible to live from week to week on a low income for a few years, increased life expectancy means that retirees now face spending perhaps 30 years or so on a meagre income.

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New Zealand's superannuation housing plan

27 Mar 17 - SBS.com.au: Accessing superannuation for a home loan deposit is something which New Zealanders are able to do. In Australia the debate continues, but it's not just the traditional first home buyer seeking to tap into their retirement funds.

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What have future generations ever done for me?

24 Mar 17 - His stake is in the ground. Prime Minister Bill English is progressively raising superannuation age of eligibility from 65 to 67. The change will be complete by 2040, but won’t start until 1st July 2037, twenty whole years away. No one born before 30th June 1972 will be affected.

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U.K. should increase retirement age faster, new report recommends

24 Mar 17 - A faster increase in the state pension age, an end to guaranteed increases of pension benefits and a midlife check to help people take stock of their work, health and retirement have been recommended in a final report reviewing the U.K. state pension age.

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Super storm

22 Mar 17 - Otago Daily Times magazine: Squabbling about the retirement age is bailing out the dinghy as a tornado approaches. Bruce Munro looks at the perfect storm brewing on the horizon and asks whether we even know in which direction to row.

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Mary Holm: Rest home costs an unwelcome surprise

20 Mar 17 - NZ Herald: Recently my mother was admitted to a rest home. She was assessed as needing hospital-level care, for which she must pay $4400 a month.

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Brian Fallow probes National, Labour & NZ First's stances on superannuation

20 Mar 17 - Interest.co.nz: Brian Fallow probes National, Labour & NZ First's stances on superannuation and argues they are too relaxed about the snowballing costs. 

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When it comes to the super fund a little borrowing can go a long way

17 Mar 17 - Stuff.co.nz: Borrowing to invest in the world's sharemarkets just doesn't sound right. Yet counter to all those instincts, it is the right approach to the partial pre-funding of future pension costs through the Government Superannuation Fund.

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Liam Dann: Give the baby boomers a break

15 Mar 17 - Baby boomer bashing is here again after the move to raise the superannuation age. Some young people are angry about the 20-year delay in lifting the age limit to 67. It's true baby boomers won't have to deal with the changes.

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TVNZ 1 Q+A: Andrew Little and Jacinda Ardern

13 Mar 17 - TVNZ: Labour leader Andrew Little and dputy leader Jacinda Ardern interviewed by Corin Dann about NZ Super.

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Steve Braunias: Secret diary of Superannuation

13 Mar 17 - NZ Herald: We're just going to have to wait and see whether we're all going to die. I don't want to pre-empt anything. But as interim Prime Minister I'm happy to go on record and say that none of us are getting any younger. Indeed many of us are growing older by the day.

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NZ Super's property poverty timebomb

13 Mar 17 - Stuff.co.nz: Retirement specialists are concerned that falling home ownership rates will undermine the value of NZ Super. Prime Minister Bill English has announced plans to raise the age of eligibility for NZ Super from 65 to 67 by 2040, while leaving the value of NZ Super the same.

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QROPS providers surprised by tax change

10 Mar 17 - Goodreturns.co.nz: New Zealand QROPS providers say they can work with a surprise change to the regime, revealed in Britain’s latest Budget.

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FMA criticised for compromising quality

10 Mar 17 - Interest.co.nz: The Financial Markets Authority (FMA) is being accused of bowing to banks’ interests as it attempts to give more people access to KiwiSaver advice.

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NZ Super news this week

10 Mar 17 - A roundup of the week's NZ Super news following the government's move to raise the retirement age to 67.  Find out what the media is saying. 

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FSC welcomes changes to New Zealand Superannuation

8 Mar 17 - The Financial Services Council today welcomed the New Zealand Superannuation changes proposed by Prime Minister Bill English. “The package of changes announced on Monday is good policy,” said FSC Chief Executive Officer, Richard Klipin.

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Your working life is two years longer

8 Mar 17 - Stuff.co.nz: Tauranga mum Maxine Paterson will be part of the first cohort of New Zealanders who will become eligible for her superannuation after the age of 65, under Prime Minister Bill English's plan revealed on Monday.

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A guide to NZ Superannuation changes

8 Mar 17 - Stuff.co.nz: Superannuation has been reset. Prime Minister Bill English has announced that the age for state superannuation will rise up to 67 in gradual steps starting in 20 years time

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Bill English on generational comparison

8 Mar 17 - Interest.co.nz: Comparing circumstances faced by different generations is unhelpful during the current national superannuation debate, Prime Minister Bill English says.

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Managers not earning their keep

6 Mar 17 - Institutional Investor: Does the amount investors pay asset managers reflect the value they deliver? More than a third (37 percent) of global investors would say no, based on data from the 2016 global survey by the Investor Intelligence Network (IIN).

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Super age lift not enough: experts

6 Mar 17 - NZ Herald: Means-testing and later eligibility for new residents among suggested changes Government should consider, writes NZ Herald political reporter Isaac Davison. 

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Pensions and Other Big Investors Increasingly Turn to ETFs

3 Mar 17 - Instutional Investor: Exchange-traded funds, like their traditional mutual fund cousins, were originally targeted at mainstream investors as an easy way to get exposure to segments of the stock and bond markets. Now large investors, such as pension funds and sovereign wealth funds, are increasingly turning to ETFs to help manage their liquidity concerns.

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Women fall further behind in retirement savings race

3 Mar 17 - Stuff: Wanganui woman Rebecca Black is worried about what time out of the workforce is doing to her retirement savings. She and her husband recently tapped into their KiwiSaver accounts to buy a first house.

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About us

The Financial Services Council (FSC) represents investment and life insurance companies in New Zealand.

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Services

Contact us

Ph: 021 0233  5414

Email: fsc@fsc.org.nz

PO Box 99581 Newmarket
 Auckland

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